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Friday, July 30th
Since 1985, Firstrade has been a leading brokerage firm offering a complete line of investment tools and products for every level of investor. This stock broker was one of the very first to get online, and they've received plenty of industry awards - Forbes, Smart Money, and Barron's have frequently named Firstrade among their top choices for online brokers, especially when it comes to commissions and fees.
You'll soon see why: Firstrade doesn't require any minimum deposits, and in August 2018 the firm eliminated all commissions for stocks, ETFs, options, and mutual funds. That's right: you won't pay anything in fees for most transactions completed through the broker's online platform. Ever.
That means that you can trade using your dashboard, online or via mobile app, at no cost other than the price of the stocks themselves. Some of the newest features added to the Firstrade app at the time of our review were advanced charts, equity ratings, and an improved trading/research interface.
You'll also have access to a wealth of information once you open an account. Click on the Research & Tools heading to see what you can expect from Firstrade, including video commentary from trusted independent analysts, Market Heatmap, Morningstar ratings and research reports, and much more.
The only drawback to using Firstrade that we could find is the lack of advisor help, either automatic or with an investment professional. Most online stock brokers offer at last one, if not both. In other words, if you need some hand-holding while buying and selling stocks and strategizing your approach, Firstrade might not be your top pick. Otherwise, if you're comfortable doing the research using the educational resources this stock broker does offer online, you'll probably be very pleased with your experience.
Firstrade jumped almost to the top of the industry when it announced their fee-free trading structure, making them an excellent choice for most investors looking for an affordable online stock broker.
Whether you consider yourself an avid investor or a beginner just starting to look into the stock market, it's easy to get overwhelmed by all of the stock trading options. Although some people still use traditional stock brokers, many people have found they can save a lot of money by trading stocks themselves.
Besides significant cost savings, another great advantage to executing your own transactions is that you can avoid the time and energy necessary to deal with "professional" stock brokers. Many of these individuals try to convince you to buy or sell stocks, because they earn a commission every time you make a transaction. With online stock brokers, you never have to talk to any salesmen.
And, of course, with fluctuations in the economy, and subsequent rises and falls in stock prices, some people panic and pull out significant investments - leaving the door wide open for others to take advantage of big opportunities to buy low and hopefully sell high later.
Of course, the best online stock brokers do have the option to work with a consultant if you choose. Especially if you're just starting to learn about investments, you may feel more comfortable knowing you can access an expert if the need arises. These services may be included, or you may have to pay for them a la carte.
So, when choosing the right online stock broker for your needs, how do you know which one is best? Before you jump in and start buying up your shares in Apple or Coca-Cola, here are some factors to keep in mind:
TopConsumerReviews.com has reviewed and ranked the best online stock brokers available today. We hope this information helps you choose the right broker for your stock buying and trading needs!
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Fri, 30 Jul 2021